Beijing, Oct 24 (ANI): Pakistan Foreign Secretary, Salman Bashir on Friday said Pakistan wants to increase cross-Line of Control (LoC) trade and people-to-people contact with India on the sidelines of the seventh Asia-Europe Meeting (ASEM).

The opening of trade in Kashmir across the LoC is the latest in a series of peace moves between the two countries.

“A lot of good things are happening at the LoC. We want to increase trade, people-to-people contact as well as cultural contacts. I think there are mechanisms in place. We must use those mechanisms to ensure respect for the ceasefire on the LoC,” said Bashir to ANI.

On the prevailing global economic crisis which has not left Pakistan untouched, he said that though the fundamentals of the South Asian countries are good, the global trends are trickling down and there is a need to tackle the situation globally.

“We have to look at the situation globally and objectively. This is a time for country’’s and neighbours to think deeply, to work on ways and means to minimize the negative fallout of the financial crises, said Bashir.

Bashir, while clarifying Pakistan President Asif Ali Zardaris statement describing the Kashmiri militants as terrorists, saying that it was not exactly what he meant as the definition of terrorism has not been satisfactorily resolved yet.

Meanwhile, the ASEM Summit has begun in Beijing and global financial crisis will dominate the agenda of the meeting.

Prime Minister Dr. Manmohan Singh is also attending the two-days Summit and will address it on Saturday.

On the sidelines of ASEM, Dr. Singh today met his Pakistani counterpart Syed Yousuf Raza Gilani and assured him on Indus Water treaty saying that India is committed to its commitments.

Gilani also reciprocated by pronouncing his country’’s commitment in the fight against terrorism and urged that the two countries should fight it out together. (ANI)